US Ford "In-house Production of Electric Vehicle Batteries by 2025"

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] American automaker Ford announced on the 3rd (local time) that it plans to produce electric vehicle batteries in-house by 2025 and sell electric vehicles equipped with these batteries.

According to CNBC on the same day, Hau Thai-Tang, Ford's Chief Operating Officer (COO), said, "Currently, it is not justifiable to have a dedicated battery factory, but by 2025, we will secure enough sales volume to justify a battery factory."

CNBC reported that Thai-Tang COO's remarks represent the most concrete timeline Ford has presented so far regarding electric vehicle battery production.

Jennifer Flake, Ford's spokesperson, also stated, "The specific production schedule will be determined based on the electric vehicle market, consumer demand, and the level of research and development, but by 2025, we expect to be in a position to produce our own battery cells."

Ford launched its first electric vehicle, the Mustang Mach-E, in the United States at the end of last year, and plans to introduce electric-powered Transit vans and F-150 pickup trucks in the second half of this year and around mid-next year.

Earlier, Ford announced plans to open a battery development center in southeastern Michigan last week, investing $185 million.

According to market research firm IHS Markit, the electric vehicle market share in the United States was only 2% last year but is expected to increase to about 25-30% by 2030 and expand further to 45-50% by 2035.

This content was produced with the assistance of AI translation services.